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Need 4 Speed - ASX Report - 18/10/22

ASX Trading

G'day folks and welcome to another trading day with your friendly, neighbourhood CMC Market Analyst! 

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Azeem Sheriff -  
CMC Markets - 

Trading Idea of the Day

ASX:XRO- Xero Ltd - BULLISH BIAS (long term)

  • Key levels on the chart - consider taking trades from key support/resistance zones.
  • Starting out in New Zealand and Australia, Xero has since spread to the UK, United States and over 100 countries around the world. The super simple online accounting tool lets anyone manage their company finances for a monthly subscription fee.
  • The simpler interface and UX design has meant that Xero is often favoured over more established names by freelancers who don’t have a financial background.
  • Xero is still in relatively early stages of growth with additional integrations, tools and features added on a regular basis making the management of your business easier year after year.
  • This creates a very sticky customer base that provides an unusually high resilience on revenue for Xero.

ASX & Economic Key Events

ASX Key Events Calendar (TODAY)

Economic Key Events (TODAY)

Economic Key Events (YESTERDAY)

OPTO For Investors Research

Article of the Day: Has the SPDR S&P Semiconductor ETF bottomed?
Podcast of the Day: Inside Callum Thomas’ Topdown Charts analysis process

APAC Daily Report

Market Snapshot & Highlights as of 8am AEDT

EXPECTATIONS: Energy LOWER (lower oil/nat gas) & Materials HIGHER on overall commodity prices.

Global Markets Headlines

(All news & data sourced from AFR / The Australian / Bloomberg / Reuters / CNBC / Wall Street Journal / Morningstar / OPTO / Trading Economics)

Disclaimer: CMC Markets is an order execution-only service. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination.

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